QMEB » Rising coal prices prompt multiple mines to reopen
Exploration Latest News

Rising coal prices prompt multiple mines to reopen

Several mines that were shelved are being reopened thanks to the recent recovery in coal commodity prices.

Glencore, Stanmore Coal and other mining companies are considering their options for restarting production.

QMEB has learnt at least seven coal mines are expected to resume operations within weeks, including four in Queensland and three in New South Wales.

Noteworthy projects include Glencore’s Collinsville Coal Mine, which restarted due to increased South East Asian demand for coking coal. The project will create some 200 construction jobs.

Stanmore Coal’s Isaac Plains Coal Mine, which former owners Vale Australia and Sumitomo sold for just $1, was recently optimised to bring a decent return on coking coal.

Since October 2016, coking coal has risen just under 30 per cent to $100 a tonne.

Add Comment

Click here to post a comment